WHY DOES A BUSINESS NEED FINANCIAL GOALS?: Direction and purpose, Allocate resources, To make informed decisions, Measure progress, IMPACT OF FAILING TO SET FINANCIAL GOALS: Run out of money, Poor decision-making, Owner's personal finance could be put at risk, Damaged credit rating, Struggle to attract investors, Business operations could cease, TYPES OF FINANCIAL GOALS: Increase earnings, Increase returns on money invested, Increase market share, Maximise profits, Decrease costs, Reduce debt,

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